Flush with Cash, Steelmaker Nucor Expects to Up Capex by $700 Million This Year

SUGAR LAND--January 28, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Last year was very good to steel producer Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina), whose annual profits skyrocketed more than eight-fold from 2020 amid a rebound in nonresidential construction across the U.S. In line with this, the company has undertaken a slew of capital projects and expects to increase its capital expenditures by about $700 million in 2022. Industrial Info is tracking $6.8 billion worth of active projects by the steelmaker.